To call the mobile-based card processing business crowded would be a slight understatement — launching a reader is nearly an instinctual reaction for commerce outlets that see Square running away with the market. What’s to stop a bank from joining the fray? Bank of America doesn’t see anything wrong, as it’s starting up a me-too service through Mobile Pay on Demand. The headphone jack reader with Android and iOS support will seem very familiar to anyone who’s been paying attention; the company does have some tantalizing lures for entrepreneurs, however, such as an ever-so-slightly lower 2.7 percent fee per transaction as well as a year-long deals marketing service subscription for any 2012 sign-ups. US shops that haven’t already jumped on the bandwagon with Square (or Groupon, or Intuit, or Pay Anywhere, or PayPal or VeriFone) can pre-order a reader today and start taking payments on December 3rd.
Filed under: Cellphones, Internet
Bank of America gets into card swiping with Mobile Pay on Demand, because 29 can play at that game originally appeared on Engadget on Tue, 13 Nov 2012 13:55:00 EDT. Please see our terms for use of feeds.
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